Obama hosts China's Xi amid simmering tensions

U.S. President Barack Obama and Chinese President Xi Jinping open talks at the White House focusing on cyberspying, global economic and regional tensions. Rough Cut (no reporter narration).

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ROUGH CUT (NO REPORTER NARRATION)
President Barack Obama hosted Chinese President Xi Jinping for his first U.S. state visit on Friday but the pomp and ceremony was not likely to mask tensions over alleged Chinese cyber spying, Beijing's economic policies and territorial disputes with its neighbors.
Obama greeted Xi on arrival at the White House for an elaborate ceremony on the South Lawn, including a military honor guard, which will be followed by a formal summit and a lavish state dinner.
U.S. and Chinese officials hope to cast the talks in a favorable light by showcasing at least one area of cooperation - the global fight against climate change - when the leaders announce a deal later Friday to build on a landmark emissions agreement struck last year.
But that achievement is all but certain to be overshadowed by major disagreements that underscore a growing rivalry between the world's two biggest economic powers.
Despite the ceremonial honors, the Chinese Communist leader, coming to Washington on the heels of Pope Francis, can expect nothing like the wall-to-wall U.S. news coverage given the popular pontiff, who drew adoring crowds wherever he went.
In diplomatic terms as well, no major policy breakthroughs are expected on the big issues that divide the two countries.
But the summit will yield a significant announcement by Xi of a commitment by China, the world's biggest producer of greenhouse gases, to begin a national "cap-and-trade" program in 2017 to limit emissions, U.S. officials said. It is an effort to build momentum toward a global climate change pact in Paris later this year, something Obama sees as part of his legacy.
However, the announcement is expected to be one of the summit's few tangible policy achievements.
High on the agenda is cyber security, a growing source of strain after high-profile cyber attacks on U.S. business and government databases blamed on Chinese hackers. Washington is considering sanctions against Chinese companies and individuals.

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